Articolele autorului Camelia Minoiu
Link la profilul stiintific al lui Camelia Minoiu

Financial Crises and the Composition of Cross-Border Lending

We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures, which account for almost one third of total cross-border loan exposures, increased during the global financial crisis due to large drawdowns on credit lines extended before the crisis. Our empirical analysis of the drivers of cross-border loan

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Does Financial Connectedness Predict Crises?

The global financial crisis has reignited interest in models of crisis prediction. It has also raised the question whether financial interconnectedness -- a possible source of systemic risk -- can serve as an early warning indicator of crises. In this paper we examine the ability of connectedness in the global network of financial linkages to predict systemic banking crises during the 1978-2010 period. Our results indicate that increases in a country's

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Armed Conflict, Household Victimization, and Child Health in Cote d’Ivoire

We examine the causal impact of the 2002-2007 civil conflict in Cote d'Ivoire on children's health using household surveys collected before, during, and after the conflict, and information on the exact location and date of conflict events. Our identification strategy relies on exploiting both temporal and spatial variation across birth cohorts to measure children's exposure to the conflict. We find that children from regions more affected by the

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Business Cycle Fluctuations, Large Macroeconomic Shocks, and Development Aid

We examine the cyclical properties of development aid using bilateral data for 22 donors and 113 recipients during 1970-2005. We find that bilateral aid flows are on average procyclical with respect to the business cycle in both donor and recipient countries. While aid outlays contract sharply during severe downturns in donor countries, they rise steeply when aidreceiving countries are hit by large adverse shocks. Our findings suggest that development

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Liquidity Shocks and the Supply of Credit After the 2007-08 Crisis

We examine the impact of heightened liquidity risk in bank funding markets during the 2007-08 subprime crisis on the supply of credit to firms internationally. Our sample comprises almost 800 banks lending in the syndicated loan market to borrowers from 48 advanced and emerging market economies. To control for simultaneous changes in demand, we relate within-borrower changes in lending from multiple banks to banks' exposure to liquidity risk. To

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A Network Analysis of Global Banking: 1978–2010

We analyze the global banking network using data on cross-border banking flows for 184 countries during 1978–2010. We find that the density of the global banking network defined by these flows is pro-cyclical, expanding and contracting with the global cycle of capital flows. We also find that country connectedness in the network tends to rise before banking and debt crises and to fall in their aftermath. Despite a historically unique build-up in

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Global Poverty Estimates: A Sensitivity Analysis

Current estimates of global poverty vary substantially across studies. We undertake a sensitivity analysis to highlight the importance of methodological choices by measuring global poverty using different data sources, parametric and nonparametric estimation methods, and multiple poverty lines. Our results indicate that estimates of global poverty vary significantly when they are based alternately on data from household surveys versus national accounts

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Child Health and Conflict in Cote d’Ivoire
The Equilibrium Exchange Rate of Mauritius: Evidence from Two Structural Models

In this paper, we assess the equilibrium value of the Mauritian rupee in 2006–07 and over the medium run using two structural models. First, we derive a current account-based measure of the exchange rate equilibrium using the macroeconomic balance approach. Second, we estimate a reduced-form fundamental equilibrium exchange rate measure. Our results, which are robust to an alternative non-econometric approach, suggest that the Mauritian rupee was

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Call for papers: How Can Emerging Donors Make a Difference?, Bucharest, Romania

Development, Trade and Foreign & Security Policies: How Can Emerging Donors Make a Difference? November 25-26, 2010 | Bucharest, Romania Call for Papers/Participation The Annual Conference of the Romanian Association for International Cooperation and Development (ARCADIA) hopes to contribute to the current debates on the state of the discipline, research, policy and practice in the areas of development and international cooperation. In order to facilitate

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